Dow tops 9000 yesterday spurring Asian market optimism this morning

July 24, 2009

(ChattahBox) — The Dow Jones Industrial Average broke through the psychologically important 9,000 mark Thursday and pushed the S&P to its highest level since Barack Obama was elected on November 4. The Dow industrial average gained 188.03 points, or 2.1%, to 9069.29. The rally was propelled by a slew of positive earnings results and improving housing and jobs data. Of the companies that have reported second-quarter earnings so far, 76 percent have topped analyst estimates, according to Thomson Reuters.

Investors took their lead from Wall Street overnight, where Asian markets hit a fresh 10-month high on Friday. The Nikkei 255 maintained its upward momentum this week to approach the 10,000 mark while the Hang Seng index broke through the 20,000 level before retreating later.

There had been concern that late results from Microsoft, Amazon and American Express could deter investors in Asia. The S&P gave up about one-third of Thursday’s gains in after-hours trading after these companies posted earnings that disappointed investors. Futures prices for the broad US benchmarks all turned negative.


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One Response to “Dow tops 9000 yesterday spurring Asian market optimism this morning”

  1. Posts about Barack Obama as of July 24, 2009 » The Daily Parr on July 24th, 2009 10:34 am

    […] about Barack Obama as of July 24, 2009 Dow tops 9000 yesterday spurring Asian market optimism this morning – chattahbox.com 07/24/2009 (ChattahBox) — The Dow Jones Industrial Average broke through the […]

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